Bitcoin-Enabled ATMs Introduced in UAE

0
1345
Bitcoin-enabled ATM
Bitcoin-enabled ATMs introduced in the UAE
Spread the love
  • 1
    Share

With Bitcoin fast gaining momentum and worldwide acceptance, NCR company well known for their ATMs have introduced Bitcoin-enabled ATMs in the UAE

NCR Corporation, a global leader in omni-channel solutions, today announced that it has teamed-up with CoinHub, a cryptocurrency exchange in the UAE, to enable users to make cash withdrawals from their cryptocurrency account at the ATM. NCR’s CxBanking software will provide users in the UAE easy access to their bitcoin funds.

RELATED: UAE residents keen on Cryptocurrency but lacks Guidance

“This locally conceptualized solution is yet another example of how NCR, a dominant ATM and payments player in the UAE, is investing in innovation to make every user’s interaction with their bank exceptional,” said Panicos Demetriades, Vice President, Professional Services, NCR Financial Services.

RELATED: Bitcoin – Infiltrating the Financial System Bit by Bit

“When we first showcased this solution to mark the 50th anniversary of the ATM this year, the positive feedback from our leading financial institution customers in the UAE helped guide our decision to bring this to market.”

The execution of the crypto currency transaction is as simple as any other transaction at the ATM. It gives bank customers the choice to use either an ATM card for regular ATM transactions or just initiate a cardless session to complete a withdrawal transaction from their CoinHub cryptocurrency account.

Once the customer is authenticated, the customer can then see his CoinHub account details and all linked cryptocurrency accounts.  He/she may then choose any of their wallets, and enter the amount they want to withdraw. A confirmation screen is displayed and once the customer confirms, the notes are dispensed, and the chosen wallet debited.

Facebook Comments

  • 1
    Share